Correlation Between CI Games and MWIG40
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By analyzing existing cross correlation between CI Games SA and MWIG40, you can compare the effects of market volatilities on CI Games and MWIG40 and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CI Games with a short position of MWIG40. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Games and MWIG40.
Diversification Opportunities for CI Games and MWIG40
Poor diversification
The 3 months correlation between CIG and MWIG40 is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding CI Games SA and MWIG40 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MWIG40 and CI Games is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CI Games SA are associated (or correlated) with MWIG40. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MWIG40 has no effect on the direction of CI Games i.e., CI Games and MWIG40 go up and down completely randomly.
Pair Corralation between CI Games and MWIG40
Assuming the 90 days trading horizon CI Games SA is expected to generate 2.77 times more return on investment than MWIG40. However, CI Games is 2.77 times more volatile than MWIG40. It trades about 0.12 of its potential returns per unit of risk. MWIG40 is currently generating about 0.2 per unit of risk. If you would invest 143.00 in CI Games SA on December 2, 2024 and sell it today you would earn a total of 26.00 from holding CI Games SA or generate 18.18% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
CI Games SA vs. MWIG40
Performance |
Timeline |
CI Games and MWIG40 Volatility Contrast
Predicted Return Density |
Returns |
CI Games SA
Pair trading matchups for CI Games
MWIG40
Pair trading matchups for MWIG40
Pair Trading with CI Games and MWIG40
The main advantage of trading using opposite CI Games and MWIG40 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Games position performs unexpectedly, MWIG40 can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in MWIG40 will offset losses from the drop in MWIG40's long position.CI Games vs. Bank Millennium SA | CI Games vs. TEN SQUARE GAMES | CI Games vs. Medicalg | CI Games vs. Santander Bank Polska |
MWIG40 vs. LSI Software SA | MWIG40 vs. Examobile SA | MWIG40 vs. Gaming Factory SA | MWIG40 vs. PZ Cormay SA |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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